Middle East & North Africa Economics

Middle East Markets Monitor

24 February, 2015

Gulf equity markets find some support from recovery in oil prices

A pick-up in oil prices has supported a small rebound in Gulf stock markets over the past month but, further out, hopes of a sharp rally are likely to be disappointed. Meanwhile, having allowed the pound to depreciate last month, the Egyptian authorities have tightened their grip on the currency again, presumably out of fears that a sharp depreciation could stoke inflation.  

 

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